The Bank of England is unlikely to hold current interest rates; it will lower them, it shouldn't but it isn't master in its own house and will meet the Brown regime's requirements. The European Central Bank will raise rates to do its central job of containing inflationary pressures, the job the Bank of England can no longer do now it is no longer an independent central bank.
If you are in sterling, get out.
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8 comments:
Scary stuff HG my nose is to the grindstone pro tem..( brain the size of a planet and I `m making the tea ...), so I will be in the real world . nasty cold place but bracing I`m assurred.
All the best
Feels like good bye, sounds like good bye, sigh.
Then, the sheer arrant arrogant stupidity of what has just been done will draw you back in a burst of rage-fired energy posing as considered opinion.
Best, N.
It's true, his brain is the size of a planet
he could hardly get his hat on last Thursday night
the banter, the banter - do you ever come to Croydon, HG ?
Are you wearing hats in Croydon, ND?
I canvassed once in Croydon North West, but such a constituency has ceased to exist I expect. I'm more Holborn and St Pancras oriented now when not considering the worth of marginal land wheat fields and the price of bread.
To even contemplate the price of wheat seems to me an indication of the level of the last 10 years' failure.
I love it when you pretend to understand all these things! It make me want to ruffle your hair you cute thing...
I'm emoting M.
Never Mind Northern Rock?
If I had deposits in it I would mind very much, even now after darling Darling came out of his cave guaranteeing the funds - too much, too late.
And I would rush to withdraw before the European Union vetoes depositors support by the state on the ground of state aid to national companies being forbidden. They are slow, probably deliberately slow this time, but pretty strict about it.
The European Commission vetoing Brown's incompetent efforts would be delicious, C.
With any luck Brown and his regime would decide to put out a propaganda interpretation that they have stood up to EU bullying and agree that we should have a referendum to indicate our preferences on the new EU Constitution; or even that we should have an indicative referendum on what we'd all like to vote on - leaving the EU.
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